United Bank for Africa (UBA) Plc , in partnership with Mastercard , has unveiled a new Mastercard Prepaid Card aimed at driving fin...
United Bank for Africa (UBA) Plc, in partnership with Mastercard, has unveiled a new Mastercard Prepaid Card aimed at driving financial inclusion and expanding access to secure digital payments across Nigeria and other African markets.
Unlike traditional debit cards, the prepaid card does not require a bank account, making it a game-changer for millions of Nigerians, particularly young adults, gig workers, and low-income earners who have historically lacked access to formal financial services.
The product allows users to easily top up funds, make local and international transactions, and manage spending securely.
At the official launch held on Monday at UBA’s headquarters in Lagos, the Group Head of Retail and Digital Banking, Shamsideen Fashola, emphasized that the innovation reflects UBA’s unwavering customer-first approach.
“This collaboration with Mastercard is yet another demonstration of our customer-first approach. We are committed to providing practical solutions that meet the everyday needs of Nigerians, and this card will make payments simpler, safer, and accessible to all,” Fashola said.
Mastercard’s Country Manager for West Africa, Dr. Folasade Femi-Lawal, also highlighted the broader impact of the partnership, describing it as part of Mastercard’s mission to advance financial inclusion.
“At Mastercard, we are relentlessly committed to advancing financial inclusion through innovative and secure digital payment solutions that serve both banked and unbanked Nigerians. Together with UBA, we are empowering Nigerians with the tools they need to confidently participate in the global economy and shape a more inclusive digital future,” she stated.
With over 28.9 million Nigerian adults still unbanked, the prepaid card is expected to directly address critical gaps in the financial ecosystem. It also offers distinct benefits for different user groups:
Budgeting tool for individuals managing expenses
Flexible payment option for freelancers and gig workers
Reloadable allowance card for the unbanked
Globally accepted and supported by Mastercard’s trusted infrastructure, the prepaid card provides a seamless digital payment experience with added peace of mind.
UBA, which serves more than 45 million customers across 20 African countries, as well as the UK, US, France, and the UAE, says the initiative aligns with its mission to empower individuals, businesses, and governments through cutting-edge digital platforms and inclusive financial products.
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